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is actually the deficit even going up so they're not doing what they estimated they wanted the budget to be so. and we also have the fed cheerleading that just you know think about that for a second with the fed really be pressing congress this way if the economy was was a lot stronger so no there's economic weakness everywhere it shows up in the participation rate it shows up in the fed sure lading as easily joseph in bed panic which i think we talked about any i.m.f. is way off the mark here they're going to be lowering these gas prices i love that the headline is that the i.m.f. downgrades forgot to say these are still far too rosy we just have a minute but no one nation that the i.m.f. upgraded with the u.s. and as you said you think the u.s. is in recession we talked about that before others i talk to you think a u.s. recession is baking a cake so what gives with i.m.f. . but related to roberta you ordered a little bit of rebirth so there you go late to every party but you are very much here for the party i really appreciate you being on the show and expounding upon all of this f
is actually the deficit even going up so they're not doing what they estimated they wanted the budget to be so. and we also have the fed cheerleading that just you know think about that for a second with the fed really be pressing congress this way if the economy was was a lot stronger so no there's economic weakness everywhere it shows up in the participation rate it shows up in the fed sure lading as easily joseph in bed panic which i think we talked about any i.m.f. is way off the mark here...
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i think that the issue of deficit spending in the enormous debt in the us is for sure an issue i think that it's something that needs to be addressed i think so many of these issues with dad and the debt overhang and what that creates in the economy kind of creates these situations that then we do see people protesting in the streets along with kleptocracy and the kind of programs that bail out banks mind you so there is that issue but i do think that there's this kind of political rhetoric that i hear where you hear politicians like newt gingrich or pundits saying the u.s. is greece and i do think that's a kind of a disingenuous talking point because the u.s. isn't greece the u.s. is not stuck in a currency zone where it has zero control of its monetary policy i mean love it or hate it the u.s. does have a fed printing money and setting interest rates also the u.s. dollars. the global reserve currency and the u.s. is benefiting from kind of a weird global situation where the u.s. dollar and u.s. debt is kind of a safe haven even though many would argue that ultimately it isn't but the
i think that the issue of deficit spending in the enormous debt in the us is for sure an issue i think that it's something that needs to be addressed i think so many of these issues with dad and the debt overhang and what that creates in the economy kind of creates these situations that then we do see people protesting in the streets along with kleptocracy and the kind of programs that bail out banks mind you so there is that issue but i do think that there's this kind of political rhetoric...
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to deal with debt in this country they have absolutely failed to do so they haven't dealt with the deficit they haven't got growth coming back into the british economy i don't think the thing is a dramatic failure unless things turn around that i think the conservative party is in for a really terrible result in twenty fifteen of the next general election september's attack on the u.s. consulate in been gaza libya which killed ambassador was an organized terror act not part of a mass protest that was the bottom line of wednesday's congress hearing an incident of says responsible for the safety of u.s. grounds in libya testified security security and severely decayed had severe hatchets a decade since the ousting of nomic retired cia officer ray mcgovern says the congressmen are trying to score points and set of getting to the root of the problem. this is a political carnival this is represented trying to make political points now they're trying to get hillary clinton for a lack of understanding what security is needed that's not where they should try to get what. they should get it will be
to deal with debt in this country they have absolutely failed to do so they haven't dealt with the deficit they haven't got growth coming back into the british economy i don't think the thing is a dramatic failure unless things turn around that i think the conservative party is in for a really terrible result in twenty fifteen of the next general election september's attack on the u.s. consulate in been gaza libya which killed ambassador was an organized terror act not part of a mass protest...
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there is a constant deficit of what is known as the democratic deficit which is not the deficit we have we have economic deficits but we have these democratic deficit we felt that we can't behave as a union and we found to be caving messy union we can't solve the problems we have for example these debt problem these very large problem could be solved i wouldn't say easily but at least. one thing we could do could be for example to divide the countries that are cutting their budgets and countries that should increase their consumption for example germany well they don't want to do that because they feeling pleasure they're not even a part of a union they are behaving as a single separate country this is the problem we have got to and of course looking to the future generation new data from greece now shows that more than fifty four percent of young people are out of a job spain is not far behind are these countries losing a lost generation or you know what they just pick up sticks and go elsewhere. well of course and in fact many people eager spain are learning german it's become the saf
there is a constant deficit of what is known as the democratic deficit which is not the deficit we have we have economic deficits but we have these democratic deficit we felt that we can't behave as a union and we found to be caving messy union we can't solve the problems we have for example these debt problem these very large problem could be solved i wouldn't say easily but at least. one thing we could do could be for example to divide the countries that are cutting their budgets and...
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the word austerity anymore they use these euphemisms they say tough decisions they say reducing the deficit they say reducing the government share of spending it's not fashionable to say the word austerity very uncomfortable with it so it's strategy not hugely coherent which is very important if cameron wants to gain this reputation is had in the past for huge compton's something he didn't mention which i have to say i wasn't really expecting was scotland of course we had recently that the stalemate between london and on as a holding a referendum on its participation in the u.k. david cameron will meet with premier alex salmond on monday to hash out the details but what we're hearing is that there will be a referendum held in. two thousand and fourteen i simple yes no question as to whether scotland will remain part of the u.k. and of course the major thing that david cameron does not want is to be the man who is in charge over the break up of the k. . of the let's get more the pros and cons of scott was possible independence and talk to gerry purvis he's leader of devo plus which campaigns
the word austerity anymore they use these euphemisms they say tough decisions they say reducing the deficit they say reducing the government share of spending it's not fashionable to say the word austerity very uncomfortable with it so it's strategy not hugely coherent which is very important if cameron wants to gain this reputation is had in the past for huge compton's something he didn't mention which i have to say i wasn't really expecting was scotland of course we had recently that the...
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ryan had voted to put the iraq and afghanistan wars on the credit card helping to cause the deficit is actually right he was right about that he didn't bother say the democrats will report he tried to pose as a political conservative by same i want to leave afghanistan do it he'll save american taxpayers eight hundred billion dollars. if they had real cuts we could save on more than that is the simpson bowles commission had suggested right and of course treated as a political football by saying you know we want to make the american navy smaller than it was before world war one to witness is not what the way to peace only strength is the way to peace yet paul ryan channel seemed to be out front of military for rays hinting at so prolonged stay in afghanistan action against iran even see what do you make of that why yes. he's one of the ones who says that the only way to pieces by total world domination by total military power. and. at the same time is claiming that he's a fiscal conservative and is going to save the country from budget deficits it's a total lie. we are wasting vast amou
ryan had voted to put the iraq and afghanistan wars on the credit card helping to cause the deficit is actually right he was right about that he didn't bother say the democrats will report he tried to pose as a political conservative by same i want to leave afghanistan do it he'll save american taxpayers eight hundred billion dollars. if they had real cuts we could save on more than that is the simpson bowles commission had suggested right and of course treated as a political football by saying...
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the word austerity anymore they use these euphemisms they say tough decisions they say reducing the deficit they say reducing the government sherif spending it's not fashionable to say the word austerity very uncomfortable with it so it's strategy not hugely coherent which is very important of cameron wants to regain this reputation is had in the past for huge compton's also did he address fears that the vulnerable will suffer most from the cuts and the economic strategy that he's proposing he tried but he's really the only one at this conference who did he delivered a classic conservative message she said smaller government talked about aspiration less about hard work but that's come against a backdrop of an announcement of a ten billion pound cut in the welfare budget which will affect primarily the young and the poor no talk of older people and we know in this country older people whatever their incomes are otherwise they all get a state pension they all get free travel they all get a winter fuel allowance that's not being addressed the twenty something he didn't mention which i have to
the word austerity anymore they use these euphemisms they say tough decisions they say reducing the deficit they say reducing the government sherif spending it's not fashionable to say the word austerity very uncomfortable with it so it's strategy not hugely coherent which is very important of cameron wants to regain this reputation is had in the past for huge compton's also did he address fears that the vulnerable will suffer most from the cuts and the economic strategy that he's proposing he...
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ryan had voted two of put the iraq and afghanistan wars on the credit card helping to cause the deficit is actually right and he was right about that he didn't bother to say the democrats will report right and of course he's one of the ones who says that the only way to peace is wide total world domination by total military power. at the same time we're going to want to say that iran was the world's leading supporter of but terrorism proves it will impact america and saudi arabia one more terrorist organizations in the region than anybody else it's time for them to quit whining start you know that's what the american voters with the world and has a base of our own cross-talk piece of his gas discounts just how different they counted it's bad genders really are the full shows coming your way at nine fifty g.m.t. but here's a preview. if romney wins if the republicans win the white house they will also probably keep the majority in the house and wins a majority in the senate and if the republicans control all the important political positions the white house the senate and see house then
ryan had voted two of put the iraq and afghanistan wars on the credit card helping to cause the deficit is actually right and he was right about that he didn't bother to say the democrats will report right and of course he's one of the ones who says that the only way to peace is wide total world domination by total military power. at the same time we're going to want to say that iran was the world's leading supporter of but terrorism proves it will impact america and saudi arabia one more...
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the ryan had voted to have put the iraq and afghanistan wars on the credit card helping to cause the deficit to run is actually right he was right about that he didn't bother to say the democrats lose it for it's force ryan of course he's one of these ones who says this go the way he did he says by total world domination by total military power agreed and he at the same time you had the gall to us say that iran was the world's leading supporter of the terrorism for example in fact america and saudi arabia one more terrorist organizations in the region than anybody else it's time for them to quit whining start with the american voters with the world and debate of our own cross talk peter lawwell and his guests discuss just how different the candidates and their agendas really are a full show is coming your way next hour but right now here's a preview. if romney wins if the republicans win the white house they will also probably keep the majority in the house and wins a majority in the senate and if the republicans control all the important political positions the white house the senate and se
the ryan had voted to have put the iraq and afghanistan wars on the credit card helping to cause the deficit to run is actually right he was right about that he didn't bother to say the democrats lose it for it's force ryan of course he's one of these ones who says this go the way he did he says by total world domination by total military power agreed and he at the same time you had the gall to us say that iran was the world's leading supporter of the terrorism for example in fact america and...
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ryan had voted to acquit iraq and afghanistan wars on the credit card helping to cause the deficit is actually right he was right about that he didn't bother to say the democrats were. right and of course he's one of the ones who says it's going the way he did he says why total world domination by total military power. but at the same time you're going to want to say that iran was the world's leading supporter of but terrorism for example impacted america and saudi arabia one more terrorist organizations in the region than anybody else it's time for them to quit whining start you know that's what the american voters will the world. we return now to our top story story of the nobel peace prize being awarded to the european union for more on the decision we're joined by host of the cause report max keiser . max thanks for joining us now and the e.u. has won for its role in uniting the continent but at a time of rising separatism and the economy in a slump how do you explain that well this is the rise of the machines this is a machine selection that chose a machine the e.u. is a tech kno
ryan had voted to acquit iraq and afghanistan wars on the credit card helping to cause the deficit is actually right he was right about that he didn't bother to say the democrats were. right and of course he's one of the ones who says it's going the way he did he says why total world domination by total military power. but at the same time you're going to want to say that iran was the world's leading supporter of but terrorism for example impacted america and saudi arabia one more terrorist...
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and we're in yemen and all these places and this is at a staggering cost which is causing the budget deficit we have a national security budget without one going to rouge trillion dollars. taking over the entire program and mentioning everything i want to mention so let me go to christopher's so everything's constructed consensus is already constructed before people vote this is essentially what bruce is saying. i totally disagree with bruce and with nicholas i think there's a huge choice a huge difference in the outcome of this election if romney wins if the republicans win the white house they will also probably keep the majority in the house and wins a majority in the senate and if the republicans control all the important political positions the white house the senate and see house then you will see a huge difference america has a huge dept more than sixteen billion dollars that is more than one hundred percent of g.d.p. and the next four years will be about who pays for that and i can tell you it will be a huge difference was obama controls the white house or mitt romney controls the wh
and we're in yemen and all these places and this is at a staggering cost which is causing the budget deficit we have a national security budget without one going to rouge trillion dollars. taking over the entire program and mentioning everything i want to mention so let me go to christopher's so everything's constructed consensus is already constructed before people vote this is essentially what bruce is saying. i totally disagree with bruce and with nicholas i think there's a huge choice a...
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that is a big problem but when you come to the question what are they willing to do to cut the deficit then for the republicans it's even worse they want to slash taxes for the rich and obama and the democrats want to raise taxes for the people who can really afford to pay a little bit more ok because of your last word before we go and before we go to the break or hand gentlemen. well the facts are that we don't know what obama would do a second term in the first term is very constrained to a large extent by getting elected in a second term and the other one people overlook is they see obama as a standard mainstream american that they grew up in hawaii in a very different culture we don't know what barack obama really expects that is quite possible that he's a populist on the scale ok gentlemen we have to go to a short break and after that shot break we'll continue our discussion on the us political system stay starting. and you can. see. wealthy british scientists are saying it's not time to time. markets finance scandals find out what's really happening to the global economy for our
that is a big problem but when you come to the question what are they willing to do to cut the deficit then for the republicans it's even worse they want to slash taxes for the rich and obama and the democrats want to raise taxes for the people who can really afford to pay a little bit more ok because of your last word before we go and before we go to the break or hand gentlemen. well the facts are that we don't know what obama would do a second term in the first term is very constrained to a...
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minute to go through the numbers we're speaking right now i currently have a seven point three public deficit and a public debt over one hundred sixty percent of the greek g.d.p. this is exactly the same for said percentage of public debt we had before the unusual story package in the ne shal be live in the meanwhile unemployment has reached twenty five percent and within the younger population it has skyrocketed to what are the first sentence. people as you're saying we have seen no major reduction in the debt despite a well medicated onslaught of bailouts here but if i may for a moment athens is bracing for large scale protests for tuesday when angela merkel visits public gatherings in the center which houses the german embassy and the greek parliament for britain for the first time in decades why now they forbidding such demonstrations to take place indeed this is a very interesting question we have just received a couple of hours ago a communique did chris from the police. for a building basically. prohibiting the attendance of the public to the products so this means that you will have a
minute to go through the numbers we're speaking right now i currently have a seven point three public deficit and a public debt over one hundred sixty percent of the greek g.d.p. this is exactly the same for said percentage of public debt we had before the unusual story package in the ne shal be live in the meanwhile unemployment has reached twenty five percent and within the younger population it has skyrocketed to what are the first sentence. people as you're saying we have seen no major...
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is protected it confirms that we've had trillion dollar deficits the last four years should we trust the cvo numbers now it's like they conveniently pick and choose there doesn't need to the job truth is they don't exist i agree with s.e. i mean politico optically this looks good politically for the president's below eight percent it kind of takes it disarms a republican to say forty four straight months of unemployment above eight percent but really the numbers still suck i mean you've got your six which is still about fourteen percent these are all the wage jobs but this isn't because of barack obama i mean this is going to be there and don't forget also you know you think that this just suddenly happen from poor years that we're in this collapsing economy that there's no jobs through there is on this panel right now it's disingenuous to say that these job numbers are so disasters of the over that the president cooked the books on these the job numbers are fairly clear but the thing is is that if you look at obama's mindset between two thousand and eight obama and two thousand and
is protected it confirms that we've had trillion dollar deficits the last four years should we trust the cvo numbers now it's like they conveniently pick and choose there doesn't need to the job truth is they don't exist i agree with s.e. i mean politico optically this looks good politically for the president's below eight percent it kind of takes it disarms a republican to say forty four straight months of unemployment above eight percent but really the numbers still suck i mean you've got...
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and they which is you know we've got this crisis going on our main priority should be to reduce the deficit we don't have the time with inclination now to talk about having me referendum is wonderful isn't it we were told for twenty years that now was not the right time for a referendum because europe wasn't an issue and now we're told now it's a wrong time because europe is an issue you know the eurozone crisis and all this i mean it's the ultimate yes minister argument you know a perfectly good idea in principle minnesota perhaps now is not the most propitious occasion if not now when you know the eurozone crisis has wrecked the premise on which we joined it's falsified our membership terms europe is collapsing as a share of our exports the rest of the world is increasing almost by the minute as a share of our trade. the reason that we went in in the first place in the early seventy's in the argument has been deployed for nearly forty years has now been made redundant by the collapse of the eurozone economy and the mulish insistence of the eurozone governments on accelerating all the poli
and they which is you know we've got this crisis going on our main priority should be to reduce the deficit we don't have the time with inclination now to talk about having me referendum is wonderful isn't it we were told for twenty years that now was not the right time for a referendum because europe wasn't an issue and now we're told now it's a wrong time because europe is an issue you know the eurozone crisis and all this i mean it's the ultimate yes minister argument you know a perfectly...
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of austerity this according to cameron is the only way for the united kingdom to reduce its budget deficit by twenty fifteen the prime minister's conservative led coalition has however rejected the idea of an imposing new taxes on the wealthy and called for more cuts and welfare spending cameron has also slammed the e.u. threatening to veto its new budget he has instead proposed to introduce two different budgets for the twenty seven nations bloc one for eurozone states and one for countries with their own currencies george editor of the staggers blog at the new statesman magazine says that this measure what undermined the position of britain in the e.u. . and that's why you need to that being members but i can't see. your. main. box agreements here. was the division between the you or is there not between. members. can actually isolate. seats at the top table and that's something that british go. bankrupt so do you have to avoid decades the. mean one of two g. twenty countries obsession is it silly and if i asked the u.k. economy actually starts to shrink problems. ground floor is the fac
of austerity this according to cameron is the only way for the united kingdom to reduce its budget deficit by twenty fifteen the prime minister's conservative led coalition has however rejected the idea of an imposing new taxes on the wealthy and called for more cuts and welfare spending cameron has also slammed the e.u. threatening to veto its new budget he has instead proposed to introduce two different budgets for the twenty seven nations bloc one for eurozone states and one for countries...
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will miss its deficit targets this year we spotted nigel farage she is leader of the u.k. independence party he says david cameron's policies are not bringing any meaningful change though to the recession ravaged economy there. you know when david cameron talks about austerity what he fails to tell you is that we continue every year to run a massive budget deficit and by the end of his five years as prime minister but national debt in the u.k. will increase by forty percent so i think we're having an entirely false debate david cameron is calling the british public into thinking that he's actually really cutting back at the levels of debt in our country and it's not true i think that the david cameron and george osborne combination. put together a coalition telling us they were going to deal with debt in this country they have absolutely failed to do so they haven't dealt with the deficit they haven't got growth coming back into the british economy i don't think the thing is a dramatic failure unless things turn around but i think the conservative party is in for a really
will miss its deficit targets this year we spotted nigel farage she is leader of the u.k. independence party he says david cameron's policies are not bringing any meaningful change though to the recession ravaged economy there. you know when david cameron talks about austerity what he fails to tell you is that we continue every year to run a massive budget deficit and by the end of his five years as prime minister but national debt in the u.k. will increase by forty percent so i think we're...
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and a stagnating economy has turned many away from el commandante today even as well has corruption deficits we are some of the poorest people we want. this has been accused of authoritarianism suppressing the courts and silencing critics in the press. another burning issue in the country is the quality of employment among the poor the government does implement measures to support them but there are no jobs for those in the deepest poverty they receive government subsidies but there isn't enough investment both government and private to actually provide them with well paid jobs instead of just giving financial aid. it for the long neglected residents of venezuela slums free services may just trump over freedom this is done as well as body a part of the largest slum in all of latin america for decades thousands of venezuelans who live here had no access to any sort of medical care that is until i saw the social program to open clinics like this one here and as well as get access to doctors kept up medical services free medicine for free here they helped me along and this community has helped
and a stagnating economy has turned many away from el commandante today even as well has corruption deficits we are some of the poorest people we want. this has been accused of authoritarianism suppressing the courts and silencing critics in the press. another burning issue in the country is the quality of employment among the poor the government does implement measures to support them but there are no jobs for those in the deepest poverty they receive government subsidies but there isn't...